this post was submitted on 01 Aug 2024
1848 points (99.0% liked)
Political Memes
5426 readers
2169 users here now
Welcome to politcal memes!
These are our rules:
Be civil
Jokes are okay, but don’t intentionally harass or disturb any member of our community. Sexism, racism and bigotry are not allowed. Good faith argumentation only. No posts discouraging people to vote or shaming people for voting.
No misinformation
Don’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.
Posts should be memes
Random pictures do not qualify as memes. Relevance to politics is required.
No bots, spam or self-promotion
Follow instance rules, ask for your bot to be allowed on this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
If I remember it correctly, that "profit" was nominal, i.e. without including the devaluation of that money due to Inflation, much less doing the proper investment accounting (as the Finance types do) were profit is a yield above a risk free investment (which, curiously, is normally Treasuries) and if it's below that it's not a good investment and beyond this the risk of losing your money also determines if the yield is worth.
Pretty much by definition the yield wasn't worth it in helping the banks at the interest rate the Government got, as why nobody else was willing to lend them the money at that interest rate.